LTCPPT #2 - Gauging Interest

[AndyRossy]

Two quick questions to the LTC community,

I like the idea by Coblee, of using PPT to promote and get more LTC out there.

Would there be interest in a LTCPPT with a lower-deposit minimum? e.g. 5BTC

Would there be interest in a PPT, where by your initial deposit is reporting back to you in "LTC" at current mid, and so can calculate the effective interest as in PPT itself was LTC (would be 6.9% +/- %BTC vs LTC mid difference / week approx.)

[Scott J]

I have told Coblee I would invest if the minimum was lower, so yes

[Greedi]

I have told Coblee I would invest if the minimum was lower, so yes

same here

[AndyRossy]

I have told Coblee I would invest if the minimum was lower, so yes

I have told Coblee I would invest if the minimum was lower, so yes

same here

This is a good sign

I may look to put together a webpage for tracking over the next couple days if I receive some more positive feedback.

What I am considering is

5BTC min deposit (via bitcoinmax)
Min length 1day
Deposits in LTC or BTC
I will over the week (like coblee), trade on btc-e/vircurex/bitparking, using my own funds, convert estimated interest into LTC, then at weekend, use this average, and pay out in LTC when pirate pays. Obviously rolling over to the following week any over-converted LTC from late-in-week withdrawals.

Sound OK? Would like some more feedback thou, 2 depositors is probably not worth the effort.

[Sherkel]

Based on what I know about PPT I think this is a good idea.

[coblee]

I want to suggest an alternative proposal. What if people can open their own bitcoinmax account but set the interest address to an address you own. Then after you get the coins on Monday, you spend a few days (or maybe a week) buying the litecoins at the exchange and then send people their coins after taking a small cut for yourself. I think a service like that might be more useful. That way, people only have to trust bitcoinmax and pirate with their principle. What do you think?

[layyen]

i like this idea and i would like to participate

[AndyRossy]

i like this idea and i would like to participate

Good to hear.

I want to suggest an alternative proposal. What if people can open their own bitcoinmax account but set the interest address to an address you own. Then after you get the coins on Monday, you spend a few days (or maybe a week) buying the litecoins at the exchange and then send people their coins after taking a small cut for yourself. I think a service like that might be more useful. That way, people only have to trust bitcoinmax and pirate with their principle. What do you think?

Been thinking about this overnight, I see where you are coming from. 

- I am considering offering less than 5BTC min - assuming I could automate it picking up deposits, and forwarded it onto the PPT (could easily be scripted). 
- Going direct via bitcoinmax may encourage people to change from "invest all" to "compound" irregularly
- Does not let me "buy ahead" stocking up the coin before when the interest is due (cant estimate how much), buying after doesnt feel "right" as interest would be running a week later, and is more susceptible to market booms-crashes.

I do like some of the positives, would remove the work load from myself. Let me have a think / look into both options.